ASX Sharemarket Game 2007 - join and play!

Whiskers said:

Hmmm, If you didn't have LGL Mint Man, What did you make your money with, RHC, SGM, or more day trading?

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No, I dont day trade. I think that your usually better off trying to pick the ones that are likely to go up in the first place. The ASX game has also had many years to figure out how to best stamp out day traders and I think they have done this fairly well with the 25% diversification rule and the limited trades you can do in a day, which I think is 12. When I first started playing when I was 17 (24 now) you could trade as much as you liked and you could pile the whole 50G into one stock.
It was very hard for the people that worked to win back then, these days you can invest long and win.
Just another tip re trading. If you trade in and out of good stocks such as LGL, PDN, NCM etc your loosing valuable dollars even if you are making a little each trade. Let me explain:
Currently Im on $59400 and due to the 25% diversification rule I can only invest $14850 in any one stock, However one of my stocks holding value is currently $15839 or almost $1000 more that what I would be able to have in it had I just bought in. This is simply because I have held onto it from the start because I believed that it had more left in it. I think this can be a good advantage in this game because at the top theres usually very little difference between players.
As for the stocks Im in, PDN has done well for me.

Cheers

Kept LGL, sold OXR and bought into TTS.

Probably a bad move, but I'm overseas (and unable to trade) for the next few weeks and want the diversity.

An OK morning so far - on $58,932.37 at the moment.

Its quite hard at the moment as Im looking for value in other stocks just in case I sell out of one or two in the near future.
See what happens. Ive got most of the 100 stocks on a watch list on my comsec so I shouldnt miss much.

Cheers

The Mint Man said:

Its quite hard at the moment as Im looking for value in other stocks just in case I sell out of one or two in the near future.
See what happens. Ive got most of the 100 stocks on a watch list on my comsec so I shouldnt miss much.

Cheers

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Geez you're taking it seriously! I've been pretty casual about it - I don't think I've got much of a shot being away from things for a few weeks. My goal's just been to finish in the top 3 in WA. Just outside that at the moment - but it's still achievable.

doctorj said:

Kept LGL, sold OXR and bought into TTS.

Probably a bad move, but I'm overseas (and unable to trade) for the next few weeks and want the diversity.

An OK morning so far - on $58,932.37 at the moment.

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Ahh TTS, great minds think alike Ive got this one on my main watch list (yes I grade my watchlists) but I think I might wait a while, maybe a few weks and see what happens with them. I think recent events may take a little while to kick in but once the races are back up and running or given the go ahead then I feel it should regain some of its loses, problem is that theres no way of knowing when this will happen. Finding a little support at $4.00 but I feel it may go lower.

Cheers

doctorj said:

Geez you're taking it seriously! I've been pretty casual about it - I don't think I've got much of a shot being away from things for a few weeks. My goal's just been to finish in the top 3 in WA. Just outside that at the moment - but it's still achievable.

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Reason being is Ive been playing for years but never finished in the top 10 so thats my goal. Last time was a bad one for me, only the second time I finished down... what can I say, Ive got something to prove to myself. Plus there are some good prizes up for grabs, may as well take it serious considering that. If you win the whole thing you get $6000, not bad! I mean most of us do it for fun anyway.

As for you not having a shot, I dont think thats true.... from memory the last guy that won it said that he hardly traded, he bought at the start of the game and only sold out a few times I think.

Cheers

Thanks for the tips Mint Man.

This is my first year playing the game and when I tried a bit of day trading in and out of the same stock I did have trouble with the 25% diversification rule. It was driving me mad trying to get an order done quickly and the 25% diversification rule notice popping up and blocking my trade.

I haven't traded for a few days now and whereas for a while I thought I might finish in the red, last I looked all my stocks rose today (for a change) and todays value was getting up towards $55,000.

Since the market has hit new highs again today I'm wondering whether I should have cashed in today in expectation of a withdrawl.

Hey guys whats going on. Heres whats been happening with me.
All out of PDN this morning @ $7.40, made about 25% on that hold so cant complain.... but will be keeping eye on it because there is some upside left IMHO however Im just not sure how soon so possible buying opp for anyone who is not in on it DYOR!
I sold the rest of my OSH holding on friday arvo at $4.22, so on average made 18% on that one.
With the proceeds I put an order in for AWC @ $7.00 which was spot on as it basically got there yesterday (from around $7.11) and has gone straight up since. Currently sitting on $7.30.
With the other half of the proceeds of selling OSH I used to get into MBL @ $80.81 about a week ago so Im up a little over 5% on that ATM. This stock was picked mostly on upside potential and to diversify a bit. I will see what happens with it but I will also consider using it for some quick funds if I notice any of the material sector stocks on a bit of a run.
BPT has made about 5% for me but Im seriously considering cutting this one as I have plans for a couple of other stocks that I think could run in the next month or so. The stocks I have in mind will be considered a bit of a risk by most people IMO (including myself) but you cant win if your doing what everyone else is doing!

After getting out of a couple of stocks (brokerage)
Cash on hand $15,521.97
Share holding value $43,541.32
Total portfolio worth $59,063.29


Cheers

Still playing Mint Man?

I went a long way no where while I was O/S, but have done OK this week. Sitting 2nd in WA & 25th overall but unless I get a breakout or two, this is as high as I'm likely to go for a while. Most of my holdings seem to be struggling to get through recent highs.

Hey Doctor J,

Do you want to share your strategy for those of us who are just learning?

I'm currently in position 2748 overall, and 493 in Qld with a portfolio worth $55422.93. I'm happy with that considering last time I played I was only just breaking even at this point

cheers
Mouse